Hickory and Steadfast Capital break ground on Melbourne Walk

Construction has officially commenced on Steadfast Capital’s Melbourne Walk, formerly known as The Walk Arcade, the first new Bourke Street Mall redevelopment in over 50 years.

The project will see the arcade, which encapsulates eight separate buildings between Little Collins Street and Bourke Street Mall, revitalised and expanded to deliver a mixed-use hotel and retail precinct. Hickory have been appointed as builder to bring the project to life.

Designed by Buchan, Melbourne Walk will retain, protect, and restore key Bourke Street façades including Diamond House, Public Benefit Bootery, Allans Building and York Building.

An official ground breaking ceremony was held on site this week, attended by Marji Kennedy from City Of Melbourne, Matt Cohen from Development of Environment, Land, Water and Planning, and Major Brendan Nottle from Salvation Army. Eugene Teo from Shorea Capital, Development Advisors to Steadfast Capital, Hayden Djakic from Buchan, and Hickory’s Managing Director George Abraham spoke at the sod-turning.

The mixed-use development will deliver 450 hotel rooms across two IHG brands – Hotel Indigo and Holiday Inn – and incorporate a public rooftop bar and a private gymnasium for guests to enjoy.

Across three levels, Melbourne Walk will bolster the retail offering of one of the city’s busiest shopping precincts, with high exposure frontages designed to attract international flagship and high-end concept stores.

The redevelopment will also optimise a north-south pedestrian shopping link, allowing shoppers to enter from Collins Street and browse through David Jones, Myer, and Emporium, before exiting onto LaTrobe Street through Melbourne Central.

Melbourne Walk will be leased by Colliers, led by Adam Lester, Director, Melbourne Retail Leasing.

Mr. Teo said: ”We look forward to rejuvenating a precinct which enjoys pride of place in the heart of Melbourne’s famed retail precinct, Bourke Street Mall.

“Through Melbourne Walk, we aspire to connect people to the vibrant Melburnian atmosphere whilst embracing and celebrating the local street art culture.”

George Abraham, Managing Director of Hickory, said at the ceremony today, “On behalf of the Hickory team, we are excited to officially break ground on Melbourne Walk, an iconic project that will expand, connect, and revitalise this historic destination.”

“Hickory pledges to provide ongoing support to the Salvation Army in a partnership that aims to service and assist the welfare of others. We have an opportunity whilst creating and building a legacy in the CBD to support the surrounding community, this is a significant part of Hickory’s culture.”


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